Previous Story
Insuring your personal property
|
Posted on Jan 20 2012
[B]Cover your personal assets[/B]
[B]When you are away from home[/B]
[/I]
Aside from the home that you worked so hard to build, the contents that make it complete may have equal or greater value. The market value of such property and the memories built around them will make it worth insuring. If you already own a homeowner’s insurance policy, find out if your personal assets are covered.
[B]How insurance companies determine the value of your personal property[/B]Most insurance companies would require a full inventory of your household to ensure that you have all your personal contents covered. From bedroom furniture to kitchen utensils, everything in your home is considered something of value. To determine the value of each item, you may be asked for sales receipts or an appraisal value from a licensed appraiser. The work to gather the information may require some effort and time, but it will be worth it in the end. However, there are some items, such as historical art pieces and jewelry that may be uninsurable.
Most homeowner’s insurance policy will cover your personal property when you are away from home if contents were included. This means that if your insured laptop was stolen while vacationing in Japan, you can file a claim to recover the loss. If you did not provide a sales receipt or an appraisal document for the laptop, you may be required to present one to properly determine the value of the stolen item. In most cases, you will have to pay a deductible amount. This amount can be found in your policy. (Pacifica Insurance)
[I]For more information on insuring your personal property, call Pacifica Insurance Underwriters, Inc. at 234-6267 or visit their office located at Joeten Center in Susupe. You may also visit www.pacificains.com or send an inquiry via email to piui@pacificains.com. Pacifica Insurance Underwriters, Inc. is a general agent for Century Insurance and Tokio Marine Pacific Insurance Limited.[/I]
